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Merrill Lynch

The fact that Vivint Solar officially filed with U.S. regulators last week for an initial public offering of common stock is an indication that solar continues to be a hot option for security companies.

Vivint Solar’s parent company is Provo, Utah-based home automation/home security company Vivint, which was bought by The Blackstone Group in 2012 for more than $2 billion.

Now, Reuters reported Aug. 26, Vivint Solar has filed for an IPO and set its fundraising target at about $200 million. And the news service said Vivint Solar lead underwriters to the offering are Goldman Sachs, Merrill Lynch, Pierce, Fenner & Smith and Credit Suisse.

The company will be listed on the New York Stock Exchange under the symbol VSLR, Reuter said. The company plans to use the IPO proceeds to repay debts, make investments and for “other general corporate purposes,” the news service said.

Reuters had reported earlier in August that Vivint Solar had confidentially filed for an IPO. Around that same time, Protection 1, one of the nation’s largest home and commercial security, also announced it would be launching a solar division called Brite Energy. Sales of solar panels to homes and businesses are expected to begin this fall.

And earlier this year, GHS Interactive Security, a new California-based security company, announced it was partnering with Solar Universe, a leading nationwide residential solar company, to combine security and solar into a comprehensive home automation package.

Since its launch in 2011, Vivint Solar has grown to be the second largest solar installer in the country.

Reuters said that the nation’s residential solar energy market is expected to grow at a CAGR of 28 percent, to about 1,713 megawatts of capacity in 2017, according to research firm GTM Research and the Solar Energy Industries Association.